INR reverses sharp rally as sentiments turn cautious amid absence of formal documentation for US-India trade deal

The Indian rupee depreciated 11 paise to 90.43 (provisional) against the US dollar on Wednesday, after a sharp rally in the previous trading session following India-US trade deal announcement and possible dollar buying by corporates and importers. However, caution still remains as there is no signed or officially released trade agreement yet, no framework text or final documentation. At the interbank foreign exchange, the rupee opened at 90.35 and touched an early high of 90.26 and a low of 90.54 against the greenback. Meanwhile, Indian shares ended a choppy session little changed on Wednesday as fears over AI-led disruption countered investor optimism surrounding the U.S.-India trade deal. The benchmark BSE Sensex swung between gains and losses before ending the session up 78.56 points, or 0.09 percent, at 83,817.69. The broader NSE Nifty index rose 48.45 points, or 0.19 percent, to 25,776. In the meantime, the Reserve Bank of India will hold its Monetary Policy Committee (MPC) meeting from today to Friday. The first MPC decision of RBI Governor Sanjay Malhotra for 2026 will be announced on Friday.

 

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